MIRA
INFORM REPORT
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Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SPHINX PHARMACEUTICALS LTD |
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Registered Office : |
Old North Airport Road,
P. O. Box 69512, Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
1997 |
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Com. Reg. No.: |
66325 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of pharmaceutical products. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
K Shs 2,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
COmpany NAME
SPHINX PHARMACEUTICALS
LTD
ADDRESS
Street : Old North Airport Road
P.O. Box :
69512
Town : Nairobi
Country : Kenya
Telephone :
(254 20) 824 267 / 821 904 / 825 503
Fax : (254 20) 824 267/ 821 902
E-Mail : info@sphinx.co.ke
SENIOR COMPANY
PERSONNEL
Name Position
1. Dr Samir Opimo Managing
Director
2. Andro Kimotay Financial Manager
Total Employees
120
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
Subject has been
operating since 1998 and is engaged in the manufacture of pharmaceutical
products.
We consider it is
acceptable to deal with subject for SMALL amounts, however in view of the lack
of the financial information we recommend international suppliers exercise a
degree of caution.
Opinion on maximum credit
: K Shs 2,000,000 (this is judged reasonable but due notice should be taken of
the above comments)
Trade risk assessment :
Normal
It is normal accepted
practice for international suppliers to deal on secured terms with Kenyan
importers.
PRINCIPAL BANKERS
NAME :
BANK OF BARODA (KENYA) LIMITED
Branch :
Mboya Street
Town :
Nairobi
Telephone : (254 20) 337 611
The company also has an
account with the following bank:
Citibank Na
Citibank House
Upperhill Road
PO Box :30711
Nairobi
Telephone: (254 2) 711
221
Fax :
(254 2) 714 811
FINANCIAL INFORMATION
Balance sheets are not
available and the subject interviewed declined to give any financial
information, which the company regards as strictly confidential.
LEGAL STATUS AND
HISTORY
Date Started : 1997
C.R. No. : 66325
Capital : not given
Private Limited Liability
Company with the following shareholders :
1. Dr Samir Opiwo
2. Dr Bend Atonda
3. Dr Djonj Drage
4. Al Ansarr LTD
Nairobi
ACTIVITIES
The Company is involved
in the following activities :
Manufacturers of pharmaceutical
products.
Imports from USA, UK,
Germany and China.
FACILITIES
The Company has the
following facilities :
Rented office premises,
manufacturing plant and warehousing facilities located at the heading address.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)